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Management Appointments

Updated: 28 Feb 2019
  • Calvin Tai and Romnesh Lamba appointed Co-Presidents of HKEX
  • Wilfred Yiu appointed as Head of Markets; Bipin Patel appointed as Group Risk Officer
  • Roland Chai appointed Head of Post-Trade; Richard Leung appointed as Group Chief Technology Officer


Hong Kong Exchanges and Clearing Limited (HKEX) is today (Thursday) pleased to announce that Wilfred Yiu will join the company on 8 April 2019 as Head of Markets, reporting to HKEX Chief Executive Charles Li and to Calvin Tai in his capacity as Chief Operating Officer (COO).  In addition, HKEX is pleased to welcome Bipin Patel, who will join the company as Group Risk Officer in April 2019, reporting to the Chief Executive, Charles Li. Both will be members of the Group’s Management Committee subject to HKEX Board’s approval.

Mr Yiu will have responsibility for the Group’s equity and derivatives markets business and operations, including its customer engagement, product development and market structure initiatives.  Mr Yiu replaces Roger Lee who retired in December 2018.  Mr Patel will be responsible for all aspects of the Group’s risk management and information security.

In addition, HKEX is also pleased to announce a number of key internal appointments:

Calvin Tai, currently Chief Operating Officer, Head of Clearing and Head of Markets (Interim), has been appointed as Chief Operating Officer and Co-President of HKEX; and Romnesh Lamba, currently co-head of Market Development, has been appointed Co-President of HKEX.  Mr Tai and Mr Lamba will continue to provide senior counsel to the Chief Executive, Charles Li and the HKEX Board, and have day-to-day responsibility, alongside the Chief Executive, for the implementation of the Group’s strategy across the company’s operations, markets, and projects.  These appointments are effective 1 March 2019.

Roland Chai, currently Group Risk Officer, has been appointed to the newly created position of Head of Post-Trade, effective 8 April 2019, reporting to the Chief Executive, Charles Li and to Calvin Tai in his capacity as COO.  The new Post-Trade Division includes HKEX’s clearing and risk management functions across equities and fixed income, currencies and commodities (FICC), both on-exchange and OTC; as well as the company’s market surveillance and monitoring functions.  Mr Chai will continue as Group Risk Officer until Mr Patel takes up his role.

Li Gang becomes sole Head of Market Development, effective immediately, focusing on the Group’s FICC business and related Mainland marketing and projects, as well as having oversight of the Qianhai Mercantile Exchange.

Richard Leung becomes Group Chief Technology Officer, effective immediately. Mr Leung will be responsible for HKEX’s technology strategy and operations in Hong Kong, London and the Mainland.  In addition, James Fok, Head of Group Strategy, will become a member of the Group’s Management Committee, subject to HKEX Board’s approval.

Charles Li, HKEX Chief Executive, said: “HKEX today announced its new three year Strategic Plan, which sets out our ambitions to be the global markets’ leader in the Asian time zone.  Ensuring that we have the right talent and skills within our senior team will be a critical part to the successful execution of that vision.  I am therefore delighted today to be announcing the appointment of Wilfred Yiu to head our Markets Division and Bipin Patel as our Group Risk Officer, as well as confirming a number of role changes within the senior HKEX executive team.”

“Wilfred has more than 25 years’ experience in international capital markets, working for major global banks in the US, Mainland China and Hong Kong, with far-reaching knowledge across equities, commodities and fixed income.  Bipin has an exceptional background in risk and quantitative analysis, having worked for major global banks, exchanges and clearing houses.  Both Wilfred and Bipin’s deep functional and international expertise will be invaluable to HKEX and I am very much looking forward to welcoming them to the team.”

“Calvin and Romi have an extraordinary combined knowledge of our market, our industry and our business and they will use this in their new role as Co-Presidents, working alongside me as we execute on our strategy. I am also delighted today to be appointing Roland as head of our enlarged Post-Trade Division, a critical part of HKEX’s business, and to be recognising the key role that technology will play in HKEX’s business in the future, with the appointment of Richard as Group Chief Technology Officer.

Mr Li, added, “HKEX is Asia’s leading financial infrastructure business and I am certain that, with these senior appointments, we can continue to capitalise on the opportunities that China and the region presents, further leverage our unique role in global markets and look to the future with confidence.”



Biographies of Mr Wilfred Yiu and Mr Bipin Patel

Mr Wilfred Yiu

Mr Yiu joins HKEX from Beijing Gao Hua Securities in China where he was Deputy CEO and Chief Operating Officer.  He joined Beijing Gao Hua Securities, a strategic partner of Goldman Sachs, in 2010 and since then has specifically been responsible for the company’s regulatory relationships and buy-side relationships with global asset managers.  Between 2012 and 2019, he was Chairman of Qian Kun Futures in Shenzhen, a subsidiary of Gao Hua Securities.  In 2017 he also became Co-Chair of the Goldman Sachs China Leadership Group.  Prior to this, Mr Yiu was Managing Director, FICC at Goldman Sachs in Hong Kong.  Mr Yiu started his financial markets career with Credit Suisse First Boston in New York in 1994.  He holds a Bachelor of Science, Computer Science and a Bachelor of Business Administration from the University of Washington, a Master of Science in Computer Science from Stanford University, and an MBA from Stern Business School, New York University.  He is currently Adjunct Professor at The Hong Kong Polytechnic University and a member of the International Committee of the Securities Association of China.

Mr Bipin Patel

Mr Patel is currently a Senior Advisor for JPX Group advising the Japan Securities Clearing Corporation, on global best practice risk modeling and risk management techniques.  He started his career as a quantitative analyst in the US in the early 1990s, following which he became an entrepreneur.  He resumed his career in the financial sector as risk advisory consultant for banks including Deutsche Bank, HSBC and Barclays Capital.  He joined LCH Clearnet in 2012 and led the FX quantitative risk team there before becoming the Head of Risk for Exchanges (Equities, Commodities and Listed Rates), and then Head of Risk for SwapClear (Listed Rates).  Mr Patel holds a Master’s in Theoretical Condensed Matter Physics from the University of Pennsylvania.


About HKEX

Hong Kong Exchanges and Clearing Limited (HKEX) is one of the world’s major exchange groups, and operates a range of equity, commodity, fixed income and currency markets. HKEX is the world’s leading IPO market and as Hong Kong’s only securities and derivatives exchange and sole operator of its clearing houses, it is uniquely placed to offer regional and international investors access to Asia’s most vibrant markets.

HKEX is also the global leader in metals trading, through its wholly owned subsidiaries, The London Metal Exchange (LME) and LME Clear Limited. This commodity franchise was further enhanced with the launch of Qianhai Mercantile Exchange, in China, in 2018.

HKEX launched the pioneering Shanghai-Hong Kong Stock Connect programme in 2014, further expanded with the launch of Shenzhen Connect in 2016, and the launch of Bond Connect in 2017.